Chennai based Veritas Finance has raised $4.5 Million in Series A round led by Sarva Capital. The round also saw participation from Caspian Impact Investment Adviser.
Founded last year by Arulmany Duraisamy, Veritas is a non-banking financial institution registered with the RBI (Reserve Bank of India). It mainly caters to providing working capital and business credit services to small and medium enterprises from across the country.
The startup has partnered with a bunch of banks like Axis Bank, HDFC Bank, State Bank of India and DBC. The raised capital is going to be used to expanding across more categories and geographies in the time to come.
Speaking on the development, D Arulmany, founder Veritas Finance stated that they are targeting the small business owners who are looking for small loans to use for working capital, expansion and asset creation.